Asian shares could be lifted after US and European markets rallied overnight on optimistic outlook of 2010. Yesterday Asian markets mostly kicked off the new year with gains. Japan's Nikkei surged 1 per cent on yen's weakness and a financial lifeline to Japan Airlines. The global markets also cheered for the strong manufacturing data from China and India. However, China's Shanghai Composite fell 1 per cent on Monday over fears on inflation.
Asian markets extended strong gains Tuesday. However, investors were still cautious although US shares jumped nearly 7% a day earlier. On Wednesday most major indices in Asia opened modestly lower following the weak lead of Wall Street.